Hong Kong’s new cash-for-residency scheme draws US$12 billion in first 2 years

Hong Kong’s cash-for-residency scheme has attracted about HK$95 billion (US$12 billion) from more than 1,700 investors over the past two years, with around two-thirds of the approved capital channelled into authorised funds and equities, the latest figures from InvestHK show. The government’s investment promotion arm on Monday released the figures for the New Capital Investment Entrant Scheme (New CIES), designed to encourage high-net-worth individuals to invest in Hong Kong, bringing both...